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Compensation Benefit Package Design Plan

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1. As the total rewards director for a large domestic manufacturing company the CEO has announced that they will be opening a new foreign production plant next year in Mexico. This new plant needs to be up and running by the deadline set by the CEO. In order to meet that deadline the company must send ten U. S. based employees, including some upper level managers, to Mexico to get the new plant functional. The CEO has come to you and asked for you to design a comprehensive and effective international compensation package to encourage the employees selected to take the assignment. Draft a memo to the CEO explaining the new international compensation program. In your memo you will need to describe the exact level of pay and benefits you want to commit to the program. For the purposes of this exercise you can assume that all 10 expatriate positions are equal and the domestic equivalent salary is $80,000. Make sure you indicate which base pay calculation you have chosen and what benefits should be offered. Please include APA references.

2. There are many nuances to the design of an acceptable pension program. Design a model program to be offered to the union and explain your rationale.

3. Read the following article:

http://abcnews.go.com/Business/companies-offering-health-care-benefitsperks-part-time/story?id=14805107

Summarize the benefits that each company provides to part-time employees. Discuss the pros and cons of offering such benefits to part-time employees. If you were responsible for making the decision of whether or not to provide benefits to part-time employees what would you do, and why? Please include APA references.

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1. As the total rewards director for a large domestic manufacturing company the CEO has announced that they will be opening a new foreign production plant next year in Mexico. This new plant needs to be up and running by the deadline set by the CEO. In order to meet that deadline the company must send ten U. S. based employees, including some upper level managers, to Mexico to get the new plant functional. The CEO has come to you and asked for you to design a comprehensive and effective international compensation package to encourage the employees selected to take the assignment. Draft a memo to the CEO explaining the new international compensation program. In your memo you will need to describe the exact level of pay and benefits you want to commit to the program. For the purposes of this exercise you can assume that all 10 expatriate positions are equal and the domestic equivalent salary is $80,000. Make sure you indicate which base pay calculation you have chosen and what benefits should be offered.

Consider the main objective is in designing a comprehensive and effective international compensation package that encourages employees to participate in the assignment by a phenomenal deal. Benefits and compensation is essential for outlining a phenomenal package that is irresistible to decline participation in the assignment. Benefits should cover the initial coverage from health to time off, such as, personal time off incentive (PTO), while, the compensation is more compensatory to cover ever monetary expense or extra spending. In doing so, the compensation and benefits aspects outline a proactive attempt for delivering a satisfactory package plan. Some of the key benefits in pursuit to including within the compensation package should reflect the basics;

a. Dental
b. Health
c. Vision
d. Wellness coverage
e. Short term disability
f. Long term disability

Intangible Benefits - try and identify the additional benefits that reflect an optional concept that corporations might not directly offer but does so to attract employees in joining the company or accepting a demanding assignment.

a. Vacation
b. Sick Pay
c. Tuition Reimbursement
d. Overtime
e. Company Paid Perks

Therefore, the benefits plan is imperative to creating an overall compensation package for securing an irresistible ...

Solution Summary

The review into creating a compensation benefit plans for a business organization.

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Designing a Compensation Package and Incentive and Benefits Plan

Question: James Richards has an electrical engineering degree from a United States' accredited university. Upon graduation he was offered, and he accepted, an entry-level engineering position at a firm in San Antonio, Texas. He has been gainfully employed with this firm for the last five years. Recently he interviewed with your firm which is located in Chicago, Illinois. You, working for the human resources department, want to employ James. Working in conjunction with your supervisor you are drafting three items; (1) a compensation package, (2) an incentive plan, and (3) a benefits plan in order to successfully employ James Richards with your organization.

Using the Internet and Library, locate all necessary information for constructing these three packages. This will include designing plans that are specific to James and this situation, including the pay rate that will be offered, and the specific benefit and incentive plans this offer will include. Along with these packages you will include a one page cover letter that outlines what you propose to offer. The cover letter should be addressed to your supervisor and should explain and justify the compensation package, incentive plan, and benefits plan. Your detailed plans will then follow that cover page.

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